PracticeAuditPwC imports staff to review audits

PwC imports staff to review audits

Staff brought in to review audit quality procedures

PricewaterhouseCoopers has said it will bring in partners from abroad to
review audit procedures of Indian clients to prevent another situation like the
accounting fraud at Hyderabad-based IT outsourcing company Satyam.

Global PwC chief Sam DiPiazza, who this week announced he is stepping down
from the role after 35 years with the firm, said that a program had been put in
place to ensure audit quality was currently under review and involved a number
of partners and staff from firms outside India.

Earlier this month the firm in India said it was overhauling its leadership
following the discovery of a $1bn (£0.7bn) black hole in the accounts of Satyam,
which it audits.

Further reading:

Satyam
chief speaks out over accounting scandal

Indian
auditors asked to present signed-off accounts again

PwC:
prepare for boom in white collar crime

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